Question 1

Country X has violated its WTO obligations. How would the WTO handle the problem?

Accepted Answer

A country failing to live up to the agre

Question 2

The most important component of the Maastricht Treaty was the establishment of economic and monetary union among European Union members.

Accepted Answer

A) True 
 B)False

Question 3

The Smoot-Hawley Act ________.

Accepted Answer

A)  lowered tariffs to encourage trade 
B)  raised tariffs to protect domestic industries 
C)  designated the International Trade Organization as an independent party in trade negotiations 
D)  required that countries treat each other on a nondiscriminatory basis and outlawed unfair trading practices 
A)  lowered tariffs to encourage trade 
B)  raised tariffs to protect domestic industries 
C)  designated the International Trade Organization as an independent party in trade negotiations 
D)  required that countries treat each other on a nondiscriminatory basis and outlawed unfair trading practices

Question 4

Which of the following was NOT a component of the Treaty of Amsterdam?

Accepted Answer

A)  a strong commitment to address high unemployment in the EU 
B)  a plan to strengthen the role of the European Parliament 
C)  establishment of a two-track system 
D)  enforcement of GATT policies 
A)  a strong commitment to address high unemployment in the EU 
B)  a plan to strengthen the role of the European Parliament 
C)  establishment of a two-track system 
D)  enforcement of GATT policies

Question 5

Which of the following countries is not part of NAFTA?

Accepted Answer

A)  Mexico 
B)  Canada 
C)  the United States 
D)  Greenland 
A)  Mexico 
B)  Canada 
C)  the United States 
D)  Greenland

Question 6

A maquiladora is a factory in which very little transformation of a product is undertaken.

Accepted Answer

A) True 
 B)False

Question 7

What was the European Commission's White Paper?

Accepted Answer

The White Paper called for acc

Question 8

The European Commission serves as the legislative branch of the EU.

Accepted Answer

A) True 
 B)False

Question 9

What was the most important aspect of the Maastricht Treaty?

Accepted Answer

The most important aspect of t

Question 10

How many countries are part of the European Union?

Accepted Answer

A)  10 
B)  12 
C)  20 
D)  27 
A)  10 
B)  12 
C)  20 
D)  27

Question 11

On the whole, regional trading blocs have proved to have a major impact on regional trade in Africa.

Accepted Answer

A) True 
 B)False

Question 12

What is a customs union? Provide an example of a customs union.

Accepted Answer

A customs union has all the characterist

Question 13

All of the following were elements of the Treaty of Lisbon EXCEPT ________.

Accepted Answer

A)  allowing the European Commission to increase in size 
B)  strengthening the powers of the European Parliament 
C)  establishing a full-time President of the European Council 
D)  allowing national legislatures to voice formal concerns about EU laws 
A)  allowing the European Commission to increase in size 
B)  strengthening the powers of the European Parliament 
C)  establishing a full-time President of the European Council 
D)  allowing national legislatures to voice formal concerns about EU laws

Question 14

The individuals appointed to the European Commission serve the European Union, not their individual country.

Accepted Answer

A) True 
 B)False

Question 15

The ________ promotes free trade among Bolivia, Chile, Colombia, Ecuador, and Peru.

Accepted Answer

A)  Mercosur Accord 
B)  Andean Community 
C)  Central America Common Market 
D)  Southern Cone Customs Union 
A)  Mercosur Accord 
B)  Andean Community 
C)  Central America Common Market 
D)  Southern Cone Customs Union

Question 16

The ________ requires that any preferential treatment granted to one country must be extended to all countries.

Accepted Answer

A)  GATT 
B)  WTO 
C)  export promotion system 
D)  most-favored-nation principle 
A)  GATT 
B)  WTO 
C)  export promotion system 
D)  most-favored-nation principle

Question 17

The GATT seeks to reduce barriers to international trade.

Accepted Answer

A) True 
 B)False

Question 18

A free trade area ________.

Accepted Answer

A)  is complete political and economic integration of two or more countries 
B)  eliminates trade barriers among member countries 
C)  allows workers to move freely among trade nations 
D)  avoids problems stemming from trade deflections 
A)  is complete political and economic integration of two or more countries 
B)  eliminates trade barriers among member countries 
C)  allows workers to move freely among trade nations 
D)  avoids problems stemming from trade deflections

Question 19

A common market ________.

Accepted Answer

A)  is complete political and economic integration of two or more countries 
B)  requires members to eliminate internal trade barriers, adopt a common external policy toward nonmembers, eliminate barriers to the movement of the factors of production, and coordinate economic policies 
C)  eliminates trade barriers among member countries 
D)  requires members to eliminate internal trade barriers, adopt a common external policy toward nonmembers, and eliminate barriers to the movement of the factors of production 
A)  is complete political and economic integration of two or more countries 
B)  requires members to eliminate internal trade barriers, adopt a common external policy toward nonmembers, eliminate barriers to the movement of the factors of production, and coordinate economic policies 
C)  eliminates trade barriers among member countries 
D)  requires members to eliminate internal trade barriers, adopt a common external policy toward nonmembers, and eliminate barriers to the movement of the factors of production

Question 20

Both GATT and the WTO seek to promote ________.

Accepted Answer

A)  trade in goods 
B)  trade in services 
C)  intellectual property protection 
D)  trade-related investment 
A)  trade in goods 
B)  trade in services 
C)  intellectual property protection 
D)  trade-related investment

Country X has violated its WTO obligations. How would the WTO handle the problem?

The most important component of the Maastricht Treaty was the establishment of economic and monetary union among European Union members.

The Smoot-Hawley Act ________.

Which of the following was NOT a component of the Treaty of Amsterdam?

Which of the following countries is not part of NAFTA?

A maquiladora is a factory in which very little transformation of a product is undertaken.

What was the European Commission's White Paper?

The European Commission serves as the legislative branch of the EU.

What was the most important aspect of the Maastricht Treaty?

How many countries are part of the European Union?

On the whole, regional trading blocs have proved to have a major impact on regional trade in Africa.

What is a customs union? Provide an example of a customs union.

All of the following were elements of the Treaty of Lisbon EXCEPT ________.

The individuals appointed to the European Commission serve the European Union, not their individual country.

The ________ promotes free trade among Bolivia, Chile, Colombia, Ecuador, and Peru.

The ________ requires that any preferential treatment granted to one country must be extended to all countries.

The GATT seeks to reduce barriers to international trade.

A free trade area ________.

A common market ________.

Both GATT and the WTO seek to promote ________.

An Overview of International Business

Global Marketplaces and Business Centers

Legal, Technological, Accounting, and Political Environments

The Role of Culture

Ethics and Social Responsibility in International Business

International Trade and Investment

The International Monetary System and the Balance of Payments

Foreign Exchange and International Financial Markets

Formulation of National Trade Policies

International Strategic Management

Strategies for Analyzing and Entering Foreign Markets

International Strategic Alliances

International Organization Design and Control

Leadership and Employee Behavior in International Business

International Marketing

International Operations Management

International Financial Management

International Human Resource Management and Labor Relations

Filters

Exam 10: International Cooperation Among Nations

Country X has violated its WTO obligations. How would the WTO handle the problem?

The most important component of the Maastricht Treaty was the establishment of economic and monetary union among European Union members.

The Smoot-Hawley Act ________.

Which of the following was NOT a component of the Treaty of Amsterdam?

Which of the following countries is not part of NAFTA?

A maquiladora is a factory in which very little transformation of a product is undertaken.

What was the European Commission's White Paper?

The European Commission serves as the legislative branch of the EU.

What was the most important aspect of the Maastricht Treaty?

How many countries are part of the European Union?

On the whole, regional trading blocs have proved to have a major impact on regional trade in Africa.

What is a customs union? Provide an example of a customs union.

All of the following were elements of the Treaty of Lisbon EXCEPT ________.

The individuals appointed to the European Commission serve the European Union, not their individual country.

The ________ promotes free trade among Bolivia, Chile, Colombia, Ecuador, and Peru.

The ________ requires that any preferential treatment granted to one country must be extended to all countries.

The GATT seeks to reduce barriers to international trade.

A free trade area ________.

A common market ________.

Both GATT and the WTO seek to promote ________.

An Overview of International Business

Global Marketplaces and Business Centers

Legal, Technological, Accounting, and Political Environments

The Role of Culture

Ethics and Social Responsibility in International Business

International Trade and Investment

The International Monetary System and the Balance of Payments

Foreign Exchange and International Financial Markets

Formulation of National Trade Policies

International Strategic Management

Strategies for Analyzing and Entering Foreign Markets

International Strategic Alliances

International Organization Design and Control

Leadership and Employee Behavior in International Business

International Marketing

International Operations Management

International Financial Management

International Human Resource Management and Labor Relations

Filters